Luxury housing making a comeback amid pandemic

New Delhi: The luxury housing is making comeback of sorts, at least in Delhi NCR market. The houses priced above Rs 1.5 crore have become popular once again as work from home trend is making people choose a bigger house. Out of the total 10,570 houses launched in Delhi NCR in the first 6 months of this year, around 17 percent of them belonged to the luxury segment. But in 2020, such houses accounted for about 9 9 percent of the total homes constructed.

From the year 2018 till June this year, around 11,300 new luxury houses have been launched in Delhi NCR and 2020 witnessed the lowest share of luxury homes supply, according to ANAROCK.

Santhosh Kumar, Vice Chairman at Anarock Property Consultants said, “Noida accounted for the maximum new luxury share (73 percent) in the first half of this year, followed by Gurugram with a 22 percent share, and Greater Noida with a 5 per cent share.” However, other regions of NCR like Ghaziabad, Faridabad and Bhiwadi did not see any new luxury housing launches in this period. According to the report, Godrej Properties Limited, DLF Group, ATS Green, Sobha Limited, and Birla Estates among others were the top providers of luxury housing this year.

 

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